(MENAFN) Sources reported that Intel Corp. has carried on talks to acquire smaller chip maker Altera Corp. and is close to a USD16 billion acquisition deal, Arab News reported.
In April, Altera rejected a similar offer from Intel following months of talks. Earlier this year, Intel signed a halt agreement with Altera that expires on June 1, giving the US firm the option to launch a hostile bid after that.
The price for Altera could be as much as USD54 per share, a 15 percent premium over its Thursday closing price of USD46.97. That would value Altera at more than USD16 billion, according to one of the sources.
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